Jul 3, 2020

5 tried-and-true tools for entrepreneurs dealing with crisis

In times of crisis and uncertainty, entrepreneurs are more likely to look outside of themselves for answers. Desperation makes the idea of a playbook—a quick-fix rule sheet outlining what worked for someone else in the marketplace—even more appealing. But we need to resist the temptation to check our creativity at the door. In this environment of high disruption, when all the rules have suddenly changed, it is more important than ever to ditch the playbook and focus on the toolkit instead.

There are three reasons to toss out the playbook. First, anything that has already been disclosed lacks an essential element of surprise. In sports, a play is successful when it is so novel—so innovative and unexpected—that no one sees it coming. By this logic, following someone else’s playbook inherently lacks ingenuity.

This leads to the second problem with playbooks: They invite copycats and crowd the space with imitator competition.

Read the full story on Fast Company

More from Daniel

Success in a tough economy requires balance, not brawn

The economic environment under COVID is volatile, which makes temperance and a measured approach tougher than ever—and all the more impressive to achieve. This year, I’m particularly interested in partnering with entrepreneurs who exemplify an ability to reconcile opposing forces and tensions, even when under pressure. Here’s my advice for how to achieve this sense of balance—and why investors are likely to find the skill more valuable than ever.

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New Peace by Ari Shavit, from Yedioth Ahronoth

The S. Daniel Abraham Center for Middle East Peace shared this article by Ari Shavit, originally published in Yedioth Ahronoth, in its September 15th Israel and Middle East Newsletter. I am posting the article here as a solid piece explaining the significance of the recent peace agreements in the Middle East. It may be a tinge too optimistic and overconfident, but I’ll take it!

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KIND’s Decision to #StopHateforProfit

We’ve decided today that KIND – in the United States and across the 32 countries where we now operate – will vote with our advertising dollars in favor of truth, fairness, civility, and kindness. Most immediately, KIND is joining the Stop Hate for Profit initiative started by Color of Change, the National Association for the Advancement of Colored People (NAACP), the Anti-Defamation League (ADL, whose Board I serve on), and others. We will pause our Facebook and Instagram advertising across all product lines starting July 1st through the close of the month.

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